|Stop Congress From Taking Money From Future HomeownersREALTORS oppose use of G Fees to Pay for Highway Bill
Dear Decision Maker,
As a REALTOR and your constituent, I ask you to oppose any attempt by the House Transportation and Infrastructure Committee to use Fannie Mae and Freddie Mac’s credit risk guarantee fees (g-fees) to fund the surface transportation reauthorization legislation scheduled to be marked-up on Thursday, October 22, 2015.
G-fees are a critical risk management tool used by Fannie Mae and Freddie Mac to protect against losses from faulty loans, and should be used only to manage the companies’ credit risks. I am opposed to the use of g-fees for purposes other than risk management.
Additionally, implementing an extension of the g-fee increase that is unrelated to housing needs could also act to hinder the necessary reforms required of the housing finance system for the foreseeable future.
I understand the need to reauthorize the highway programs and help strengthen our country’s infrastructure. However, I also strongly believe that use of an extended g-fee to fund transportation programs saddles future homeowners with an unnecessary long-term burden, and prevent Fannie Mae and Freddie Mac from effectively managing their risk.
Please oppose the use of Fannie Mae and Freddie Mac’s credit risk guarantee fees (g-fees) to fund transportation programs
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